GoPro recorded a revenue of $281 million in Q3 2020, up 109% sequentially, according to the company’s press release. The company’s subscribers reached 501,000, representing a 35% growth sequentially and 65% year over year. Direct-to-consumer and subscription-centric company’s strategy delivered Q3 margins and adds.

  • GoPro GAAP gross margins for Q3 2020 were 35.4%, up 21.7% year over year, while non-GAAP gross margin was 36.2%, up 23.4% year over year basis. 
  • The company’s Q3 2020 GAAP net income was $3 million or $0.02 per share, up from a loss of 74.8 million or ($0.51) per share in Q3 2019
  • Non-GAAP net income was $31 million or $0.21 per share, up from a loss of 61.3 million or ($ 0.20) per share in Q3 2019
  • GAAP operating expenses was $90 million, down 9% year over year basis.
  • Non-GAAP operating expenses were $68 million, down 25% year over year basis.
  • Adjusted EBITDA was $39 million, up from a loss of $53 million in Q3 2019
  • Cash and cash equivalents were $147 million, up from $79 million in Q3 2019
  • Channel inventory declined 10% sequentially and 45% since the start of 2020
  • GoPro launched HERO9 Black in September to widespread global acclaim.  

GoPro stock is gaining. GPRO: NASDAQ is up 23.88%